Taxes

A tax abatement is a reduction in the amount of taxes a business or individual must pay to the federal, state, or municipal levels of government. Tax abatements typically take the form of a decrease in the amount of tax owing or a rebate being issued. In some instances, an abatement can also result in […]

The Schedule 1 tax form might be applicable to you. If it is, it will become part of the standard Form 1040 you fill out every year. You may hear the Schedule 1 form referred to as the “Additional Income and Adjustments to Income Form.” Like that name implies, the form acts as a catch […]

Getting tax terms straight can be a dizzying exercise. Remembering the difference between your income, investment income, gross income, and your adjusted gross income is important, but it’s tricky when you only need to think about it once a year. Locating and calculating your adjusted gross income using your W2 is especially important, as that […]

You may have it ingrained into your brain that Tax Day is April 15. However, much like the extension granted in 2020, the government is once again offering you more time. The IRS recently announced they are postponing the April 15 deadline to file your taxes until May 17. That gives Americans two extra months […]